Arcadia Biosciences (NASDAQ:RKDA) Now Covered by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Arcadia Biosciences (NASDAQ:RKDA) in a research report issued to clients and investors on Wednesday. The firm set a “sell” rating on the basic materials company’s stock.

Arcadia Biosciences Trading Down 11.6 %

Shares of RKDA opened at $2.80 on Wednesday. The company’s fifty day simple moving average is $3.48 and its 200 day simple moving average is $4.11. Arcadia Biosciences has a 1-year low of $1.90 and a 1-year high of $10.31. The company has a market cap of $3.82 million, a price-to-earnings ratio of -0.65 and a beta of 0.78.

Hedge Funds Weigh In On Arcadia Biosciences

An institutional investor recently bought a new position in Arcadia Biosciences stock. Geode Capital Management LLC bought a new position in shares of Arcadia Biosciences, Inc. (NASDAQ:RKDA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,297 shares of the basic materials company’s stock, valued at approximately $73,000. Geode Capital Management LLC owned about 0.90% of Arcadia Biosciences at the end of the most recent quarter. 17.73% of the stock is owned by hedge funds and other institutional investors.

About Arcadia Biosciences

Arcadia Biosciences, Inc produces and markets plant-based food and beverage products in the United States. The company develops crop improvements primarily in wheat to enhance farm economics by improving the performance of crops in the field, as well as their value as food ingredients. Its food, beverage, and body case products include GoodWheat, Zola coconut water, ProVault topical pain relief, and SoulSpring.